YOURSAY | 'However, Anwar has not outlined what the government intends to do.'

'We are already in a crisis,' PM warns of looming price increases

PM slams Hadi over oil price claims, says hikes driven by multiple factors

Mazhilamani: It is a very timely warning by Prime Minister Anwar Ibrahim.

This price increase on essential commodities will surely affect most food and oil-importing countries around the world owing to wartime-induced production and transportation costs.

We are lucky that Malaysia is a petrol-producing country while also being a crude oil-importing nation for refinery purposes.

We can still afford to cushion part of the higher commodity cost.

The situation is no different from the two-year Covid-19 pandemic period when food costs rose steeply.

Belts were tightened then. The same may be happening again.

It is important for the federal and state governments, employers and householders to prepare themselves for the testing time coming our way.

Be thankful that many countries abstained from the Middle East war. Or the impact may have been devastating.

Determined Sarawakian: Abdul Hadi Awang’s grasp of fossil fuel economics is flawed.

Oil prices are not determined by whether tankers can pass through the Straits of Hormuz.

While geopolitical chokepoints can create short-term volatility, the real drivers are global market forces - production quotas, demand cycles, and trading dynamics.

Malaysia, in fact, already enjoys some of the lowest fuel prices globally, thanks to subsidies and its position as a crude-producing nation.

That said, Malaysia must go further.

As an oil producer, it is strategically vital that we refine more of our own crude into finished products.

Greater refining capacity would strengthen energy security, reduce reliance on external suppliers, and ensure that our domestic economy captures the full value of our resources.

The goal should be clear: Malaysia must be self-sufficient in refined fossil fuels and avoid overt dependence on imports of finished petroleum products.

Pink: The true sign of a good leader is how they manage a crisis. Winston Churchill rose to the occasion during World War II, while Muhyiddin Yassin steered Malaysia through the difficult period of the Covid-19 pandemic brilliantly.

The current Iran war presents an opportunity for Anwar to show leadership.

However, so far, he appears to be warning of the impending doom and urging us to prepare for this and that, without clearly outlining what the government intends to do.

This creates an impression of a lack of clear direction - something that is essential in strong leadership.

FellowMalaysian: Just hours earlier, Anwar was reassuring us and confidently telling us we are holding up well and far from pressing the panic button because, presumably, there are still loads of reserve oil.

We are unlike the people of Thailand or the Philippines, who have to queue for petrol for miles. He blurted the reassuring words barely hours ago.

Now, Anwar is asking Malaysians to seriously brace for impending price increases, not just for petrol or petroleum-related products.

What kind of wishy-washy prime minister is he?

Looks like he is the first Malaysian to call a panic.

EmEmKay: I fully agree - we are indeed facing a crisis and must act urgently to curb looming price increases.

However, please be diligent about the MACC corporate mafia issue and the leakages highlighted in the Auditor-General’s annual report; tackling corruption and financial leakages is essential to protect public resources and ensure any relief measures reach those who need them most.

GP2025: Everyone knows this. But what people don’t know is that this crisis would be better managed if this government had made forward-thinking decisions about oil production in Malaysia.

We would have buffer stocks to help control prices.

I don’t know why our leaders just don’t ask the apparent pointed questions to get a correct explanation and leave the public in the dark.

XED: How about blaming corruption, crime, cartels, price-fixing, mismanagement, inefficiency, negligence, cronyism, sudden holidays, benefits for the undeserving, silly policies and so on?

Surely there are studies showing the economic losses from these ills.

A simple test: how much work gets done in a government office in the afternoon before the weekend?

How much is added to the cost of living when businesses pass on to consumers the cost of bribery and corruption that they have to practise when dealing with government agencies?

Undecided: Every week, there is news on new corruption cases uncovered by the police, and even today, there is a report on a senior police officer being charged together with others with extortion.

It is not that the present government is not trying, but the corruption is so deep and widespread, with more than 60 years of indifference and lack of will to stamp it out.

Chefoo: Anwar… fight a lie with facts and figures. You guys are always provoking religious verses to secure your points. You are so hard up on showing your religious credentials rather than being a prime minister.

Provide accurate facts and figures, and any rationale that citizens will understand.

Don’t always bring in religion and say that Islam says one must speak the truth.

Every religion teaches its followers to speak the truth, but in reality, half the people don’t believe in truth and are bound to believe gossip and obscured news. So fight with real facts.

KarmaChameleon: Not sure whether to laugh or to cry after getting to know that Hadi explained it in his way.

Luckily, we do not have a no-brainer to rule Malaysia. Anyway, look at the four states under PAS, and you will be enlightened immediately.

I think we will steal and go bankrupt when these people rule.

Can someone please educate all these PAS members on economy 101, or shall I say Ekonomi 101 to begin with? Thank you.

Just Common Sense: Yes, we need to take a few more helicopter rides to check out a few more rocks. We've got to see to believe.

MarioT: When times are foreseen to be difficult, then conservation is the way to cut according to the cloth.

As it is, we are known to waste good food due to overindulgence in eating.

Let us all do our part to help in times of crisis by managing our food and travel needs.

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